Mbanza kongo: Eight economic projects, valued at 881 million kwanzas, were financed during the first semester of this year in the province of Zaire, under the Production Support, Export Diversification and Import Substitution Program (PRODESI). The information was provided by Manuel Oliveira, the head of department of the national economic directorate for business development, during the presentation of Prodesi results in this province.
According to Angola Press News Agency, Manuel Oliveira noted that the number of processes from local economic agents sent to creditor institutions was very low compared to other provinces, urging the local business class to submit more projects in the future. He explained that current policies for approving investment projects have become easier with the establishment of the Credit Guarantee Fund, eliminating the need for a guarantor and a robust structure previously required by commercial banks.
Oliveira clarified that if an entrepreneur has a properly structured project, the Credit Guarantee Fund can assume the risks of reimbursing the amount received, should the entity become unable to fulfill its obligations. In 2024, the Credit Guarantee Fund secured 313 projects out of 6,321 approved actions nationwide.
He added that in the first six months of the current year, the institution secured 92 projects, generating financing valued at 70 billion kwanzas. Additionally, 980 companies were registered in this period, and 399,234 tons were exported, reflecting the country's increasing engagement in foreign markets.
Oliveira highlighted that since Prodesi's inception in 2019 until 2024, the Executive has provided 1.5 billion kwanzas and generated 104,462 formal jobs throughout Angola. At the event's opening, Afonso Nzolameso, the deputy governor of Zaire for the Political, Social and Economic sector, called for greater transparency in the selection and provision of bank credits to local economic agents.
The discussion also covered challenges such as land ownership, taxes, and other obstacles faced by candidates accessing Prodesi products in northern Angola. Prodesi's results have already been presented in the provinces of Moxico and Lunda-Sul.
